After Facebook releasing a new software development kit, along with an overhauled Application development center for Andriod. This was a sign of an upcoming completely new Facebook app for Android.
However, this particular update is not as big as we expected, but still is a nice update with respect to photo handling. The app has been updated with the ability to pick any album of yours before uploading and faster photo tagging.
Also, a bug has been fixed which was experienced by a few people when using a language, other than English.
To update the Facebook app on your device, go to Google Play > My Apps. You will be automatically shown the apps that can be updated, now tap the Facebook app followed by update button. The Facebook app for Android will be downloaded and updated.